The Monetary Policy Committee (MPC) of the Bank of Ghana will today [September 20,  2022] start its annual conferences to evaluate developments within the economy.

The assembly will additionally come out with the Monetary Policy Rate which is of eager curiosity to companies, because it determines the speed at which the Bank of Ghana lends to business banks, and subsequently influences rate of interest on loans.

The Central Bank at its last MPC assembly in August this year, elevated the financial policy price by 300 foundation factors to hit 22 percent.

The assembly which was an emergency Monetary Policy Committee (MPC) assembly was held primarily to proffer options to test the continual increments within the country’s headline inflation and other pertinent issues such because the depreciation of the cedi in addition to measures to test the country’s declining international reserves.

Currently, inflation has shot up to 33.9% in August 2022.

According to the Ghana Statistical Service, the drivers of the speed of inflation had been Housing, water electrical energy, fuel and other fuels (46.7%); and Transport (45.7%);

The MPC conferences will conclude with a press convention on Monday, September 26, 2022 to announce the choice of the Committee.

 

Source

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